On 23 October 2015, Malaysia's Prime Minister and Finance Minister Najib Razak presented the Budget for 2016 to parliament. The main tax-related measures concern individual income tax brackets, tax incentives and GST.

Individual Income Tax Brackets

Two new upper individual income tax brackets and rate will be added:

• over MYR 600,000 up to MYR 1 million - 26%
• over MYR 1 million - 28%

The c…

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